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Photograph Courtesy of Maryellen Jones, www.MJDesignStudio.net
Greetings!
Here we are at the midpoint of 2011 and we have made it to summer. The weather has improved and the weekends have been beautiful. I hope you have been able to spend them with family and/or friends doing something special. I feel blessed to live and sell real estate in a community with such natural beauty as displayed in the photograph above.
Unfortunately our spring real estate market has been a bit sluggish with overall results just off from a year ago. However, there are some encouraging trends, particularly in the area of median sale price. For this newsletter I have again provided "Fast Facts" below for those who prefer just the numbers and I have also provided an analysis as well.
There are still properties coming on the market so if you are a buyer, keep looking. Fortunately interest rates are still amazingly low as you will see in the Today's Rates section. If you are a potential seller, consider listing your home this summer. There are most certainly buyers still shopping for a home in Hingham.
As always if you have any questions about the local real estate market or would like to discuss purchasing or selling a home, I am just a phone call or a click away.
Sincerely,
Pam Bates
Coldwell Banker Residential Brokerage
c: 617-240-1292
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Just The Facts Please | |
Q2 2011 Hingham Real Estate Fast Facts | |
If you are just looking for the facts, here are Q2 2011
vs Q2 2010 statistics.
|
Homes Sold |
Q2 2010 |
Q2 2011 |
%
Change | |
Total Sales |
$57,827,020 |
$52,872,246 |
(9.4%) | |
# of Homes
Sold |
77 |
74 |
(4%) | |
Days on
the Market |
126 |
145 |
15% | |
Median Sale
Price |
$627,300 |
$654,000 |
4.3% | |
Sales to List
Price Ratio |
96% |
97% |
1.0% | |
Current
Inventory |
7/72010 |
7/7/2011 |
| |
# of Homes
on the Market |
216 |
181 |
(19.3) | |
Months of
Supply |
9 |
7 |
(2.9%) | |
Days on
the Market |
176 |
143 |
(23.1%) |
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Source: Multiple Listing Service Property Information Network, Inc |
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Hingham Real Estate Q2 2011 Summary | |
Spring Has Sprung
Q2 2011 results are slightly off from Q2 results in 2010. In Hingham single family home sales totaled over $57 million 2010 versus $52 million for the same period in 2011. This is a reduction of approximately 9% vs. the prior year. In 2010 there were 77 homes sold during Q2 vs 74 in 2011. This is a reduction of 4%. It is worth noting that in Q2 2010 there were still government home buying incentives in place which fueled some of our sales, particularly for first time home buyers.
In Q2 2011 the average days on the market days was 145 days, which is an increase of 15% from the previous year. The sales price to listing ratio slightly improved to 97%. Finally and perhaps most importantly, the median home price increased from Q2 2010 to Q2 2011 by 4.3% to $654,000!
While Q2 results are a bit sluggish, it still appears that Hingham home values have stabilized. Inventory levels of homes on the market as of 7/7/2011 has been reduced by 19% over the same period in 2010. This is a 7 month supply of inventory vs a 9 month inventory a year ago. Typically real estate experts consider it to be a balanced market when there is a 6 month inventory available. At this point, the scale is still tipped in the direction of a buyer's market. As I reported in my last three issues, typically real estate recoveries begin with improved overall sales statistics with median/average home sales price gradually increasing over time. The median home sale price in Hingham during the past 10 years has ranged from $412,000 in 2000 to a high of $670,000 in 2010. Q2 2011 showed a 4.3% increase over the same period in 2010 at $654,000.
Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales Q2 2011
|
Address |
Sale Price |
Days on
the Market |
Cost per
Square Foot | |
16 Sycamore Lane |
$405,000 |
71 |
$321 | |
475 Main Street |
$517,000 |
32 |
$348 | |
49 Hobart Street |
$544,000 |
23 |
$292 | |
44 Downing |
$599,000 |
73 |
$406 | |
49 Elm Street |
$589,000 |
332 |
$343 | |
39 Smith Road |
$585,000 |
235 |
$301 | |
40 Liberty Pole Road |
$615,000 |
65 |
$270 | |
24 Ship Street |
$640,000 |
64 |
$358 | |
48 Ridgewood Crossing |
$724,500 |
486 |
$382 | |
4 Eastgate Lane |
$734,000 |
68 |
$305 | |
39 High Street |
$781,500 |
57 |
$318 | |
19 Howe Street |
$783,000 |
63 |
$384 | |
25 Fearing Road |
$927,000 |
18 |
$361 | |
25 Backriver Road |
$1,070,960 |
0 |
$486 | |
13 Thompson Avenue |
$1,055,000 |
38 |
$393 | |
3 Dwiggins Pathe |
$1,100,000 |
41 |
$267 | |
10 Kress Farm Road |
$1,192,000 |
120 |
$416 | |
12 Boulder Glen Road |
$1,137,500 |
120 |
$305 | |
11 Isaac Sprague |
$1,255,000 |
18 |
$283 | |
101 High Street |
$1,360,000 |
46 |
$390 | |
8 Kress Farm Road |
$1,512,000 |
210 |
$308 | |
4 Gardner Terrace |
$1,535,000 |
35 |
$301 |
If you would like information on a property that is not listed, please contact me.
Source: Multiple Listing Service Property Information Network Inc.
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| South Shore Single Family Market Statistics | |
Q2 2010 vs Q2 2011
|
Town |
Median
Sales Price |
% change
from 2010 |
Avg.
Days on
Market |
# of
Units
Sold | |
Cohasset |
$644,750 |
(22%) |
220 |
18 | |
Hingham |
$654,000 |
4.3% |
145 |
74 | |
Norwell |
$540,000 |
(.4%) |
146 |
26 | |
Scituate |
$490,000 |
(10.%) |
147 |
71 |
|
Hingham is showing growth in median price while Cohasset, Norwell and Scituate are lagging slightly behind in this metric.
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Source: Multiple Listing Service Property Information Network, Inc |
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Your real estate resource
Pamela Bates
Realtor SRES,CNS,CHMS/
Notary Public
Coldwell Banker Residential Brokerage
56 South Street
Hingham, MA 02043
c: 617 240-1292
o: 781 749-4300
vm/fax: 781 210-0227
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Buyer Feedback |
The real estate website Trulia asks, " What do buyers look for in a real estate agent?"
Finding the right agent is one of the toughest parts of the homebuying process for most consumers, but they all have an idea of what they are looking for when hiring a real estate agent. Here's what they had to say (in order of importance).
1. Honesty and Credibility
2. Area Familiarity
3. Good Follow Through
4. Organization
5. Good Listener
To read the entire article click here:
Trulia Article on Buyer Agents |
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What is my House Worth? |
If you are interested in finding out the value of your home, I can provide you with a Complimentary Market Analysis. Likewise, if you know of someone who might be interested in making a change, I welcome all referrals.
If you are contemplating a move out of this area, I can also provide you with a referral to a knowledgeable Coldwell Banker relocation expert in the market of your relocation.
Pam Bates
c: 617 240-1292
There is no greater compliment than the referral from your family, friends and previous clients. |
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Today's Rates |
Interested in finding out about mortgage rates?
Kevin Byrne, Coldwell Banker's full-time senior mortgage specialist can recommend a mortgage plan to fulfill your needs.
As of 7/12/11 the following rates are available:
-30 year fixed: 4.625% + 0 points
-FHA 30 year fixed 4.25% + 0 pts.
-30 year Jumbo fixed: 4.875% + 0 points
-15 year fixed: 3.75% + 0 points
WOW- these rates are .375%- .75 % lower than 3 months ago!
Other rate and point options available.
It is an excellent time to secure that fixed, low interest rate loan! Kevin can be reached via email or at 781 718-3366
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Useful Resources
My New Website
Please visit my website, www.PamBates.com, for local listings, past editions of my Hingham Real Estate Newsletter as well as community news and information
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Social Media
You can find me on Facebook at PamelaBatesRealtor
As well as on LinkedIn
And Twitter as well!
Other Resources
Have you visited New England's #1 real estate website? Click below for Coldwell Banker's regional website, NewEnglandMoves.com
NewEnglandMoves.com
Mortgage Calculator
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Thinking of becoming a Realtor?
I would be pleased to speak with you about working for Coldwell Banker, the #1 real estate office in Hingham, New England and The United States!
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